Radiopharmaceutical product supplier Pharmalucence plans to build a 70,000-sq-ft pharmaceutical production facility and new corporate headquarters in Billerica, MA.
The new facility is being constructed with support from a $20 million Massachusetts Recovery Zone Facility Bond, issued on the company's behalf by MassDevelopment and purchased by TD Bank.
Pharmalucence makes eight drugs used in diagnosing illnesses such as cancer or heart disease. The company sells its excess production capacity to other pharmaceutical companies that need production support, according to the firm.
Pharmalucence plans to start construction this summer, with full operation by the end of 2012. The company said it expects to create up to 30 new jobs as a result of this expansion.
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